THE INFLUENCE OF AGENCY BANKING ON CLIENT RELATIONSHIP STRATEGIES: CASE STUDY OF EQUITY BANK, NAIROBI COUNTY
Abstract
This study sought to address the influence of agency banking on client relationship strategies with Equity bank of Kenya as the case study. Specifically, the study sought to establish the influence of service delegation, effective decision making and reliable services on client relationship strategies in Equity bank, Kenya. The study was informed by four theories which included; agency theory, stewardship theory, resource-based theory and relationship marketing theory. Descriptive research design was adopted in the study while the target population was the employees from Equity Bank, Kenya. The study was based in Nairobi hence the target population comprised of the 33 Equity bank branches in Nairobi County. The study employed cluster sampling whereby the employees were classified into 5 clusters which were marketing managers, operations managers, ICT managers, branch managers and heads of customer service. This made in total sample size of 165 respondents. Structured questionnaires were used to collect data from the study which was analyzed using mixed method whereby qualitative data was analyzed by content analysis while SPSS was used to analyze the quantitative data to generate percentages and frequencies. The study established that service delegation was a key aspect in promoting client relationship strategies. The study also established that branch managers delegate services to banking agents which enabled accessibility of banking services hence customer satisfaction. Through service delegation, competence and management capability have been enhanced across the branches. Banking agents have the authority to offer services that were previously offered by the bank branches which had enhanced customer satisfaction. Also customers get quick response to their queries and concerns in a better and easy way through banking agents.
Key Words: Service Delegation, Effective Decision Making, Reliable Services, Client Relationship, Agency Banking
CITATION: Wangwe, K. W., Njanja, L., & Kamaku, P. (2020). The influence of agency banking on client relationship strategies: Case study of Equity Bank, Nairobi County. The Strategic Journal of Business & Change Management, 7(3), 180 – 206.
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DOI: http://dx.doi.org/10.61426/sjbcm.v7i3.1665
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